Regulation on the Markets in Crypto-Assets (MiCA)

With a provisional agreement reached on the MiCA proposal, the final text is expected to be published in the Official Journal during the second quarter of 2023 [1]. The Regulation shall apply within 18 months from entry into force, with the exception of the part relating to stablecoins which shall be applicable within 12 months.

Banking Package 2021

Following the respective positions of the EU Council and EU Parliament on the updated Banking Package, trialogue negotiations kicked off at the beginning of March. The main objective is to faithfully implement the Basel III standards while avoiding significant changes to the credit institutions’ overall capital requirements by taking into account the EU banking sector’s specific characteristics. The intention is to reach an agreement on the final package during the Swedish Presidency, that is by the end of June. The main topics being discussed relate to capital requirements, fit and proper assessments, third country branches, and ESG risks, amongst other things.

[1] The final text has been published on 20 April 2023, during the time of publication of this Regulatory Update. Further information may be provided in the upcoming quarterly update (Q2 2023).